Fred Thiel, CEO of Marathon Digital Holdings, a major Bitcoin mining company holding over 36,300 BTC, stated that Bitcoin has missed its window to become a widely-used payment method. Once envisioned as digital money to replace cash, Bitcoin now faces challenges that have shifted daily transactions toward stablecoins.
Thiel pointed out that stablecoins offer the advantages Bitcoin lacks for everyday use, including price stability and lower transaction costs. Meanwhile, Bitcoin’s volatility and slower confirmation times hinder its appeal for routine payments. This view aligns with a growing industry trend where cryptocurrencies like USDC are becoming the preferred choice for merchants and consumers looking for digital payment options.
The evolving regulatory landscape also plays a role. For instance, Circle’s recent progress securing regulatory approval strengthens stablecoins’ footing. In contrast, Bitcoin remains largely a store of value and speculative asset rather than a transactional tool.
Bitcoin’s price recently reacted mildly after the comments, holding near $60,000 with low volatility.
